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However, it is surprisingly the approach often adopted for meeting compliance objectives. Best Effort” approach is not enough and how you can turn it into a “Best Outcome” strategy to advance compliance this is a starting point but for all companies it is not the destination when it comes to advancing compliance Establish a governance program to continuously improve compliance effectiveness.

Collecting evidence is an important aspect in providing assurance of compliance. Why is this important to compliance? This is exactly why compliance needs to be careful. That is why it is so important that the first step to improve compliance begin with taking ownership

achieve an acceptable level of risk which is the purpose of risk management and the standard for overall compliance where we help you develop operational leading and lagging indicators (among other things) for your compliance

At a fundamental level compliance programs protect the value stream from threats that hinder the creation

Using a consistent risk framework and specifically for the definition of risk across compliance programs definition focuses on the effects rather than the chance that a risk will occur: With some work, compliance Plan- Do-Check-Act Questions : In what ways has different meanings of risk affected your compliance

This is fundamental to practices such as Lean and Six Sigma along with risk and compliance. 

is care you will find loyalty if there is care you will find integrity The great part of working in compliance If "C" in compliance stands for anything it stands for "Care"

In risk and compliance, we often assess the likelihood of significant events that could harm employees

Many companies have created policies to optimize the production of numbers which when it comes to compliance looks something like this: The number of compliance issues open The number of hours of training per of internal audits completed on-time The percentage of outstanding post-audit issues The number of complaints The compliance function is now so optimized around passing audits that it is unable to adapt to changes Compliance has created a high-performing yacht to win a race, but not the race that now matters.

This same principle applies to creating Total Value through productivity and compliance programs.

In recent years, Governance, Risk, and Compliance (GRC) frameworks have become essential tools for integrating When applied to GRC, this principle ensures that all governance, risk management, and compliance practices

Member states will be responsible for enforcing the regulation, and non-compliance can result in significant results) takes steps to assess the system's impact, manage the risks associated with its use, monitor compliance Finally, the penalties proposed under the AIDA for non-compliance with the governance and transparency significant impact on businesses that work with AI by imposing new obligations and penalties for non-compliance www.nist.gov/itl/ai-risk-management-framework] Also, if you are interested in developing an AI Risk & Compliance